Dish said it gained 14,000 pay-TV subscribers during the fourth quarter, badly trailing forecasts from analysts for growth of 44,000.

However, Dish said it added about 89,000 net pay-TV subscribers in 2012 after losing 166,000 in 2011. It ended the year with 14.056 million subscribers, up 0.64% from 13.967 at the end of 2011.

Wall Street punished Englewood, Colo.-based Dish for the earnings and subscriber numbers, driving its shares down 8.56% to $33.00 in premarket trading. The stock had already been off about 1% on the year as of Tuesday’s close.

Last month Dish made an unsolicited offer to acquire wireless-broadband provider Clearwire (CLWR), which had already reached a takeover deal with Sprint Nextel (S).